As we explained in detail yesterday, between governments hopes to exit the bailout program early (in order to save their election) - which the market does not like the idea of - and fears over the reality of OMT, Greek markets are tumbling. Greek stocks are down over 9% - the biggest plunge in 6 years and bond yields are surging... it appears the market is demanding Draghi get back to work as the "whatever it takes" gains have been halved (Greek stocks -35% from March 2014 highs).

HFT Firm Athena Engaged In Massive Closing Price Manipulation, Called It "Gravy"Submitted by Tyler Durden on 10/16/2014 - 14:12Another day, another HFT firm busted for manipulating the market. Today's participant: Athena Capital, which did what every other algorithmic, HFT firm does - rig the market of course, but at least it had a sense of humor about it: Athena called the market-rigging algorithm that "manipulated the closing prices of tens of thousands of stocks during the final seconds of almost every trading day during the Relevant Period" by the very amusing name "Gravy." But remember: HFTs are really your friend - they just provide liquidity and stuff.

Cocktail of Trouble for Europe’s Liquor FirmsA cocktail of troubles has set back sales growth at Europe’s biggest liquor makers, with sales still on the slide in China and growth patchy in the U.S. and Europe. Executives warned there may be no quick recovery.

Big Banks Start Charging Clients for Euro Deposits A number of global banks have begun charging large customers to deposit their money in euros, a rare move that could have costly implications for investors and companies that do business on the Continent. The actions are driven by policies from the European Central Bank, which in June became the largest central bank to impose a negative interest rate on deposits -- meaning banks are paying to park their money with the ECB. Now, instead of paying customers interest on their euro accounts as they have done traditionally, Bank of New York Mellon Corp., Goldman Sachs Group Inc. and J.P. Morgan Chase & Co. have started charging them, according to people familiar with the matter.See More Coverage »